To reinforce the accounting cycle, the students will make use of a well known game - Monopoly
Introduction:
I have used the Monopoly game in my accounting classes with great success. Depending on the strengths/weaknesses of individual classes, you can make the game easy enough for first year accounting students yet complicated enough for senior accounting students.
Below are some links so that you can get a feel for using monopoly in your classroom. Personally, I try to keep it quite simple. I decide on a chart of accounts, some basic rules, and let the students go. As students come upon a question, we decide as a class on how it should be dealt with. As the students play the game, they need to record any transaction of money - paying/receiving. At the end of the time allotted, they post their transactions and create a worksheet (no adjustments). Once the worksheet is completed, they create a balance sheet and income statement. We then compare who 'made' the most and who 'lost' the most amount of money. Links:
Accounting Cycle
Accounting Monopoly
- To reinforce the accounting cycle, the students will make use of a well known game - Monopoly
Introduction:I have used the Monopoly game in my accounting classes with great success. Depending on the strengths/weaknesses of individual classes, you can make the game easy enough for first year accounting students yet complicated enough for senior accounting students.
Below are some links so that you can get a feel for using monopoly in your classroom. Personally, I try to keep it quite simple. I decide on a chart of accounts, some basic rules, and let the students go. As students come upon a question, we decide as a class on how it should be dealt with. As the students play the game, they need to record any transaction of money - paying/receiving. At the end of the time allotted, they post their transactions and create a worksheet (no adjustments). Once the worksheet is completed, they create a balance sheet and income statement. We then compare who 'made' the most and who 'lost' the most amount of money.
Links:
- http://www.geocities.com/CollegePark/Quad/5687/monopoly.html
- http://www2.schs.org/zee/monopoly/simulation.html
- http://www.uen.org/Lessonplan/preview.cgi?LPid=7476
- http://www.swcollege.com/vircomm/gita/gita03-1.html
Teacher:- This activity takes planning. Monopoly boards and play money are needed - the number depends on the class size.
- A great end of the year activity
Assessment Ideas:- Students are to answer the following questions and submit to the teacher
- What was the best part of the activity?
- What was the worst part of the activity?
- What one thing would you do differently?
Approx. Time Needed:Transactions Templates
Handouts